ConocoPhillips (COP), recently, announced the fourth quarter results. By far the most important announcement was the enlargement of the stock purchase program to $25 billion. This key program has been a big reason for the outperformance of the stock when compared to many other industry competitors.
Seeking Alpha Website February 20, 2020.
Many competitors have a stock chart that basically trends downward over the last 18 months or even longer. ConocoPhillips management has prevented that pattern from occurring by supplying the demand for the stock through the stock repurchase program. Management also has